Press Release

Boston, MA, August 5, 2022 – Burns & Levinson is pleased to announce that it represented Biorez, Inc., a medical device startup, in the intellectual property aspects of its acquisition by CONMED Corporation (NYSE: CNMD), a medical device company. On August 1, CONMED announced its definitive agreement to acquire privately held Biorez on a cash-free, debt-free basis, for cash consideration of US$85 million at closing, subject to adjustment, and up to an additional US$165 million in growth-based earnout payments over a four-year period. The transaction is expected to be financed through the company’s existing credit facility.

Biorez is focused on advancing the healing of soft tissue using its proprietary BioBrace® Implant technology. The BioBrace® implant is an innovative bioinductive scaffold that is intended to reinforce soft tissue where weakness exists and facilitate healing. BioBrace® is cleared for use by the FDA in multiple product sizes.